BNP Paribas Financial Markets Has $495,000 Stake in First Financial Bancorp. (NASDAQ:FFBC)

BNP Paribas Financial Markets reduced its stake in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 49.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,404 shares of the bank's stock after selling 18,356 shares during the period. BNP Paribas Financial Markets' holdings in First Financial Bancorp. were worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FFBC. Barclays PLC raised its stake in shares of First Financial Bancorp. by 140.1% during the 3rd quarter. Barclays PLC now owns 190,742 shares of the bank's stock worth $4,812,000 after purchasing an additional 111,309 shares in the last quarter. Blue Trust Inc. increased its holdings in First Financial Bancorp. by 11.3% in the fourth quarter. Blue Trust Inc. now owns 9,340 shares of the bank's stock worth $236,000 after buying an additional 945 shares during the last quarter. KBC Group NV raised its position in First Financial Bancorp. by 82.8% during the fourth quarter. KBC Group NV now owns 5,150 shares of the bank's stock valued at $138,000 after acquiring an additional 2,333 shares in the last quarter. Kavar Capital Partners Group LLC acquired a new stake in First Financial Bancorp. in the fourth quarter valued at approximately $208,000. Finally, Empowered Funds LLC lifted its stake in First Financial Bancorp. by 5.1% in the fourth quarter. Empowered Funds LLC now owns 308,749 shares of the bank's stock valued at $8,299,000 after acquiring an additional 15,037 shares during the last quarter. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bancorp. Stock Performance

FFBC stock traded up $0.14 during midday trading on Thursday, hitting $24.27. 391,855 shares of the company traded hands, compared to its average volume of 418,976. First Financial Bancorp. has a twelve month low of $20.59 and a twelve month high of $31.18. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 10.11 and a beta of 0.94. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $23.77 and a 200-day simple moving average of $26.25.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The business had revenue of $201.59 million during the quarter, compared to the consensus estimate of $214.80 million. During the same period in the prior year, the firm earned $0.59 EPS. First Financial Bancorp.'s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Monday, June 2nd. First Financial Bancorp.'s dividend payout ratio (DPR) is 39.83%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FFBC. Keefe, Bruyette & Woods cut their price target on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Royal Bank of Canada lowered their target price on shares of First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. Finally, Truist Financial began coverage on First Financial Bancorp. in a report on Tuesday, May 13th. They set a "hold" rating and a $27.00 target price on the stock.

Insider Activity

In related news, insider James R. Shank sold 7,600 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the completion of the transaction, the insider now owns 11,141 shares of the company's stock, valued at approximately $277,633.72. The trade was a 40.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.13% of the stock is currently owned by company insiders.

First Financial Bancorp. Company Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.